Sponsorship investment is such a crucial task for luxury brands as 50% of their success depends on their ability to relate their products to high end lifestyles. It is known that the first step to building a great brand reputation is creating a reliable brand identity, not only to establish the idea of exclusiveness but also to develop a clear, believable personality. Your brand is the face of your business, so you’d better bring a beautiful makeup if you want to succeed in the high-end business party.
Define a believable
personality for your brand and build a coherent message around it
Investing in sponsorship without a clear message and a defined brand is definitely a marketing suicide, but it seems companies are addicted to that huge mistake. Don’t forget that brands are like real people, they have their own personality as we do. There are cheerful brands, raging brands, modern brands, traditional brands… For luxury branding consultants, defining an exclusive, unique personality and a consistent message is the most crucial step of the entire brand building process. Whitout that solid basement you simply can not reach a place in the mind of the prospective costumers. So by investing in sponsorship not having a solid brand identity you’ll be working for your competitors. If people are not able to keep your brand in their minds they will end up thinking that your sponsorship actions where performed by other luxury brands that their brains can clearly identify.
Take your time to plan your sponsorship strategy
Strategy and planning are the keys to develop a successful luxury brand experience. Don’t forget that sponsorship is an investment so it deserves research, patience to wait until the good opportunities came. It usually happens that the best tennis player at this time or the most famous actor demands a disproportionate fee. That’s the main reason to think of sponsorship as an investment. Good luxury branding consultants would carry out some research into your brand most suitable sports, celebrities, events, etc. not only to find the most relevant investment but also to identify worthwhile opportunities.
Choose your strategy
carefully, carry out regular background checks and keep track of their activities
You must be aware of your sponsoree will be the face of your brand for a lot of people. You might think you made the right choice by signing the most famous golf player. Nevertheless, it is a bit more complicated. You must know that people are not going to focus their attention only in tournament appearances. The audience will always be curious about celebrities personal life. So it’s really important to carry out regular background checks because a personal scandal will have a terrible effect on your brand reputation.
Develop original, high-end, branded materials to make
Although the sponsored guy is the one who attract the main attention of the audience it is very important to provide him with well designed branded materials. Don’t waste your minutes of brand exposure with complex messages or designs. Notice that people only have a few seconds to see your logo on screen, so the more complex it is, the less they will remember it. So you must make sure that your branded materials are simple enough to fix it in your audience memory.
Define a reliable method
to evaluate your results
and review your strategy
Not every Formula 1 pilot or every tennis player became a legend, and of course, not every famous person can keep its condition of celebrity forever. If you’re lucky enough to find that one in a million who becomes a legend, good for you! Never let him go. Nevertheless, for 99% of luxury brand sponsorships it is necessary to review the strategy and design new actions every year. Measuring the impact of sponsorship on your company brand value is a must. Luxury companies should adapt to a changing environment. Life change, people change and luxury brands change too.